Asia-Pacific Diy Home Improvement Market- Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Asia-Pacific Diy Home Improvement Market- Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Asia- Pacific do-it-yourself (DIY) home improvement Market has observed a notable growth, during the COVID-19 pandemic. DIYers in developed as well as developing countries are investing time to complete home improvement projects as most of the people are under COVID-19 lockdown. Majority of the DIYers are engaged in gardening practices to enhance customer’s living space to keep them entertained in the lockdown situation. Such factors are driving the demand for DIY products, amid COVID-19.

The changes in lifestyles have increased interest in DIY interior designing and other activities. Moreover, in the developing Asia-Pacific regions, the growing population of working women and their participation in the decision-making process for home decoration are also boosting the sales of products required for such projects. Subsequently, there is increasing adoption of DIY home improvement products. The use of DIY products lowers long-term costs than work outsourced to expensive labor. Therefore, the demand for DIY home improvement products is a major factor driving the market studied. The customer base of the DIY Home Improvement market can substantially grow if there is a growth in the offline sub segment. There is a lack of Internet awareness among people above age group 65 in the Asia-Pacific region which would accelerate the demand for offline DIY home improvement products.

In-store display plays a major role in how DIY consumers learn to manage DIYs. Big-box retailers have seen a boost in sales by implementing these tactics, and these are also just as useful for small and local home improvement businesses. Most often, small businesses excel over the big box stores in terms of customer service and store-consumer relationships. 82% of all DIYers are likely to explore products in the store, even if the final purchase is made online, and millennial DIYers are more likely to seek the product and make the final purchase of quality products in-store, especially for products like paint. Home Services remain a priority among the other services in 2020 as 90% homeowners continue to hire plans to attempt DIY projects. Homeowners are showing 54% and 52% interest for the painting and landscaping activities, respectively. The growing urbanization complemented with changing consumer lifestyle are some of the factors that may bolster the market growth of the do-it-yourself (DIY) home improvement retailing industry, during the forecast period.

Environment-friendly projects and initiatives like DIY combo kits, reusable snack bags, DIY un-paper Towels, etc. by innovative companies are some factors that would drive the Asia-Pacific Do-It-Yourself (DIY) home improvement market during the forecast period. The increasing population in countries like India, China and other countries has an ample need of natural resources to sustain. There is an increasing awareness among the people of these regions to be environmentally friendly. By doing sustainable development in the Asia-Pacific DIY Home Improvement products could certainly attract more customer base into its market.

The Asia-Pacific DIY Home Improvement Market is moderatly consolidated in nature, In terms of market share. Some of the major players operating currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies is increasing their market presence by securing new contracts and by tapping new markets.

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